Price Liberalization in a Reforming Socialist Economy : A Search Equilibrium Approach

A Search Equilibrium Approach

Price Liberalization in a Reforming Socialist Economy : A Search Equilibrium Approach
A bilateral search model of the commodity market is formulated to study the effects of liberalizing prices in a reforming socialist economy. The main result is that if the competitive structure of the economy is not quickly modified to eliminate supply rents, price liberalization may be accompanied by substantial output losses. A role for tax... READ MORE...

Publication date: June 1992
ISBN 9781451846379
$15.00

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